Top Sectoral loser: Nifty PSU Bank index Sectoral Trend Top Sensex gainers and losers Markets at Close The S&P BSE Sensex ended the day at 34,047, down 137 points while the broader Nifty50 index settled at 10,458, down 34 points ALERT: Indian equity, forex and commodity markets will remain closed on Friday, March 2, on account of Holi. Sector watch: Auto The demand for auto components from domestic original equipment manufacturers (OEMs), especially high volume two-wheeler (2W) and passenger-vehicle (PV) industry which together constitute about two-third of overall ancillary industry size, has remained strong in Q3FY2018. Moreover, stellar growth in CV as well as tractor segment has further supported overall volume growth. According to an ICRA note on the industry, given the indicative trends, the growth momentum is expected to sustain in Q4FY2018 as well. This will be strongly supported by improved demand outlook in key end user segments as well as expected pickup in rural income. Going forward, pickup in infrastructure activity will further drive growth in construction & mining equipment as well as the tipper segment (classified under M&HCVs) (Source: ICRA report)
The benchmark indices ended marginally lower on Thursday afternoon amid thin trade.
The S&P BSE Sensex ended the day at 34,047, down 137 points while the broader Nifty50 index settled at 10,458, down 34 points.
In the domestic market, economic growth recovered to a five-quarter high of 7.2 per cent during October-December, backed by strong manufacturing and investment activity as the disruption caused by the goods and services tax (GST) bottomed out. The robust third-quarter performance led to a marginal upward revision in the second advance estimate for 2017-18 to 6.6 per cent from 6.5 per cent in the first estimate, though it was still lower than the 6.75 per cent projected by the Economic Survey. The data came after the markets ended on Wednesday.
In the global markets, Asian stocks skidded on Thursday after comments from the Federal Reserve’s new chief rekindled fears about the pace of US monetary tightening this year, sending Wall Street tumbling for its worst performance in two years and lifting the dollar.
(with Reuters inputs)